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Realistbear

Stormy Times Ahead? Hpc In Some U S Markets Expected

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http://www.realestatejournal.com/buysell/m...213-efrati.html

The worry for investors is that this real-estate slowdown will mirror that of the early 1990s, when condo values in some markets dropped more sharply than those of single-family homes, in part because many had been bought by speculators -- the same kind of speculative buying that has fueled this era's boom.
Boston
In terms of price appreciation and sales, downtown-Boston condos peaked in 2004. But it wasn't until the last quarter of last year that developers and sellers of existing condos really started to feel the impact -- as condo resales fell 30% from a year earlier, according to Listing Information Network, a real-estate data firm.
San Diego
Of the condo markets we surveyed, San Diego showed the strongest signs of a slowdown. In the fourth quarter of 2005, the median price per square foot for downtown condos fell to 0.2% to $517 from a year earlier -- the first year-over-year drop since 2001, according to London Group Realty Advisors, a research firm. San Diego also had an
82% rise in inventory
of existing condos last year as speculators stopped buying.
Florida
"Where are the people going to come from?" says broker Barbara Ackerman, who predicts the median condo price in downtown will drop a "minimum of 10%" this year.
It's no longer uncommon for sellers to offer hard-to-get golf and beach-club memberships, which can cost as much as $75,000 apiece.

For the US, the change in the housing market only began in mid to late 2005.

Edited by Realistbear

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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